Saudi Arabia Crude Supply Fell in September

Top Oil Exporter Cut Supplies as Domestic Demand Drops

Top oil exporter Saudi Arabia cut its crude supply to international and domestic markets by 328,000 barrels a day to 9.360 million in September as the kingdom burned less crude for power generation, an industry official familiar with the matter said Thursday.

The news of the supply drop pushed oil prices higher by 1.1% in Europe, a slight rebound after they lost 25% in the past four months amid a global oil glut.